Cap. 69 Art. 4Power of Board to permit increase of rent, etc.

The Board shall grant the said permission:

(a) if the lessor is bound to carry out or has reasonable cause for making any alterations or works other than ordinary repairs;

(b) if the new lease established in accordance with the provisions of this Ordinance is not more than two per cent (2%) per annum of the freehold value of the tenement on the open market.